Delhivery Limited (NSE: DELHIVERY, BSE: 543529), India’s leading logistics and supply chain services provider, has announced its decision to acquire a controlling stake in Ecom Express Limited. This strategic move aims to strengthen Delhivery’s position as a market leader by leveraging Ecom Express’ network infrastructure and operational capabilities.
The acquisition is expected to enhance Delhivery’s scale-driven efficiencies and expand its reach across India’s rapidly growing logistics market. With both companies serving overlapping customer bases, the integration will deliver seamless operations while reducing redundancies in network assets and corporate overheads.
Ecom Express operates approximately 3,750 facilities nationwide, including hubs, processing centers, delivery stations, and warehouses. Post-acquisition, Delhivery plans to optimize these assets by retaining high-value locations and repurposing others within its existing network. The integration will also involve rationalizing overlapping facilities to improve cost efficiency.
Ecom Express reported a revenue of ₹2,609 crore in FY2024 and ₹1,912 crore for the first nine months of FY2025. However, the company posted a net loss of ₹398 crore for 9MFY25 due to non-cash adjustments related to financial liabilities under Ind AS 109 accounting standards. Once consolidated into Delhivery’s books, these adjustments will be eliminated, providing a clearer picture of operational profitability.
Delhivery anticipates significant benefits from this acquisition, including higher incremental margins due to better asset utilization and reduced costs. The company expects the integration process to be completed by FY2026, with temporary costs related to redundant facilities estimated at ₹300 crore.
Madhulika Rawat, Company Secretary & Compliance Officer at Delhivery Limited, confirmed that the acquisition is subject to approval from the Competition Commission of India (CCI). Once approved, this deal will mark another milestone in Delhivery’s journey toward becoming India’s most comprehensive logistics solutions provider.
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Those who are not disturbed by the dualities of happiness and distress are certainly eligible for liberation.
